I highly doubt that there's exit taxation, but in case there is one, you should contact a tax consultant in Germany which also checks the taxation rules in your home country. It can be very complicated sometimes. But Germany won't care in what country you were when buying BTC. Your home country could︀ care, but they can't know you made your money with selling your crypto.
Ticker tape by TradingView
Looking for a crypto-exit strategy
- Thread starter OlegB
- Start date
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
- Status
- Not open for further replies.
Oh no. You will have to pay exit-tax on your unrealised gains, even if you move to another EU or EEA country. Also on potential company shares.
Have you heard of this? (Verluste aus Termingeschäften nur noch bedingt abzugsfähig. translated)
Also, politicans think about removing the capital gains tax of 25%, thus you would pay up︆ to 42% income tax in the future:
https://www.brokervergleich.de/wissen/expertisen/abschaffung-der-abgeltungsteuer/
There is a reason why folks with︇ crypto assets and traders move OUT of germany.
Have you heard of this? (Verluste aus Termingeschäften nur noch bedingt abzugsfähig. translated)
Also, politicans think about removing the capital gains tax of 25%, thus you would pay up︆ to 42% income tax in the future:
https://www.brokervergleich.de/wissen/expertisen/abschaffung-der-abgeltungsteuer/
There is a reason why folks with︇ crypto assets and traders move OUT of germany.
Indeed. Also in DE, hold for 12 months, no tax. (Staking is a bit more murky here)
... well, there is always the pesky source-of-funds issue that I seem to have stepped in, the tax authorities are happy, the banks, not quite. So don't be me, always track 100% when and where, crypto may be stuck in wallets for a long enough time to not pay tax, but even if 100%︀ legal, above-board and aged-well you can still look like a drug dealer.
... well, there is always the pesky source-of-funds issue that I seem to have stepped in, the tax authorities are happy, the banks, not quite. So don't be me, always track 100% when and where, crypto may be stuck in wallets for a long enough time to not pay tax, but even if 100%︀ legal, above-board and aged-well you can still look like a drug dealer.
Yes - you can't predict the crypto market and I would assume, there is a chance you would rather sell and pay tax than hold. It was just a "bonus" information, to understand how germany works. Losses and tax in this case. 🙂
And like I said, you need to pay 25% on outstanding gains if you want to leave germany. This is new as of 2020, before that there was a "Stundung", so it was not applied - if the country was EU or EEA. Thats the important part.
And like I said, you need to pay 25% on outstanding gains if you want to leave germany. This is new as of 2020, before that there was a "Stundung", so it was not applied - if the country was EU or EEA. Thats the important part.
Just holding it for a year in a wallet is not enough they want you to also show them when you purchased and if you made any trades..and if it doesn't add up you'll︀ have to pay..most of the people I know did trade or at least tried...
When I cashed out I was thoroughly checked eventough it was completely tax free and sitting︁ in my wallet for 3 years...
And I don't know how the law is but︂ what if they have to report to your country where you did not pay taxes..I︃ mean it's a union..
When I cashed out I was thoroughly checked eventough it was completely tax free and sitting︁ in my wallet for 3 years...
And I don't know how the law is but︂ what if they have to report to your country where you did not pay taxes..I︃ mean it's a union..
What strage problems people have.
What's the definition of one possessing crypto? Is there a database that matches each bitcoin address to a concreate person? If not, what proves to the goverment that you're the ownder of a certain address and or have a certain amount of crypto?
And more importantly, how would they find it out unless you yourself revealed it to them?
What's the definition of one possessing crypto? Is there a database that matches each bitcoin address to a concreate person? If not, what proves to the goverment that you're the ownder of a certain address and or have a certain amount of crypto?
And more importantly, how would they find it out unless you yourself revealed it to them?
I mentioned︀ multiple times that you need sufficient proof of purchase. You shouldn't move any of your︁ coins when receiving them from an exchange. I'd better keep them in a normal wallet︂ than on an exchange. This way you can always proof that there was only one︃ transaction from your side and that went into your wallet. The blockchain is enough proof︄ then. But the tax authorities might ask additional questions. That will be done manually and︅ then you have to provide proof.
Interesting question. Because in some countries there is indeed a database that matches each︊ bitcoin address to a person. Exchangers from the Netherlands are required to do that by︋ law now. But your current amount of crypto isn't relevant in Germany. No sale means︌ no taxes as long as you didn't stake or generate any rewards with it. But︍ why does it even matter if they find out how much you're having in crypto?︎ That doesn't matter in Germany and relevant is your profit from sales when holding for️ less than a year.
Interesting question. Because in some countries there is indeed a database that matches each︊ bitcoin address to a person. Exchangers from the Netherlands are required to do that by︋ law now. But your current amount of crypto isn't relevant in Germany. No sale means︌ no taxes as long as you didn't stake or generate any rewards with it. But︍ why does it even matter if they find out how much you're having in crypto?︎ That doesn't matter in Germany and relevant is your profit from sales when holding for️ less than a year.
Bitcoin is not anonymous. The second you buy bitcoin or cashout bitcoins you are leaving traces. There is multiple governments buying information from private companies,
in the efforts of taxing bitcoin tax evaders.
Also already︀ hackers and criminals behind bars after private companies traced them.
I´ve heard about bitcoin mixers.︁ I don´t know how efficient those are.
in the efforts of taxing bitcoin tax evaders.
Also already︀ hackers and criminals behind bars after private companies traced them.
I´ve heard about bitcoin mixers.︁ I don´t know how efficient those are.
The second you buy bitcoin nothing happens because one can buy it from an individual, as P2P.
Or, one can get paid in bitcoin and here nothing will happen either.
The only possible threat is when one buys it on a centralized exchange with KYC.
Bitcon isn't anomous, and so what? If I give you a bitcon address, will you be able to tell me who owns︀ it?
Or, one can get paid in bitcoin and here nothing will happen either.
The only possible threat is when one buys it on a centralized exchange with KYC.
Bitcon isn't anomous, and so what? If I give you a bitcon address, will you be able to tell me who owns︀ it?
but one can.... guess what? Create a new bitcoin address or multiple ones. 😛 It takes 1 second.
I still don't get it. I think you don't understand how crypto works. What you claim is similar to thinking that "a person can have only single email, for the rest of his life and is unable to register a new one, nor abandon this current email. And email is uniquely identifies a person. And an email can only be registered and used via︀ gmail, yahoo and other well known email providers." Gibberish or not?
I still don't get it. I think you don't understand how crypto works. What you claim is similar to thinking that "a person can have only single email, for the rest of his life and is unable to register a new one, nor abandon this current email. And email is uniquely identifies a person. And an email can only be registered and used via︀ gmail, yahoo and other well known email providers." Gibberish or not?
Yea I know and Germany is not the problem almost every country in the︆ eu has a "Wegzugsbesteuerung" and you have to declare that in the original country (otherwise︇ it can be punished retrospectively...)
the problem comes when you want to lets say buy a︍ house with btc...
getting 500k via p2p in cash? is well not the best thing︎ i guess..and getting it from an exchange will only work with kyc...
the problem comes when you want to lets say buy a︍ house with btc...
getting 500k via p2p in cash? is well not the best thing︎ i guess..and getting it from an exchange will only work with kyc...
No Waldo Boy. You can't just sent your BTC to a new address and think that makes you anonymous.
I don't think you understand how it︀ really works. Yes, you can create new bitcoin addresses and send them there or whatever.︁ The point is that you're the owner of the address the made the transaction. Should︂ you do anything suspicious with it? Probably not, because you bought them with your real︃ name. Sending to mixers is definitely suspicious, but most probably they can't really tell what︄ happened after that. It's suspicious, but not illegal. Exchanging to Monero isn't supicious at all︅ and solves much more problems than mixers could ever solve. I didn't claim anything that︆ you mentioned. I just said that exchangers from the Netherlands are only allowed to withdraw︇ to "verified" addresses that you own by submitting proof.
I am from Germany and as far as I know it is true that you can convert your BTC to FIAT tax free after 1 year if you have not traded in this timeframe.
To prove this, I would put the coins for 1 year into one address and not move them.
For trading Germany is as far as I know awful. You can not deduct your losses from your profits anymore (only up to 10k/year). This means you can basically end up in debt, even if you do not made any profits.
To prove this, I would put the coins for 1 year into one address and not move them.
For trading Germany is as far as I know awful. You can not deduct your losses from your profits anymore (only up to 10k/year). This means you can basically end up in debt, even if you do not made any profits.
- Status
- Not open for further replies.